The COVID situation in India has been deteriorating very rapidly and the country is at a stage when any help is crucial. Army, governments, and people from around the world are extending hands of support to India. And one such help has come from the Ethereum co-founder Vitalik Buterin who donated $600k or Rs 4.5 crores for the COVID fund in India. Buterin recently shared proof of transfer of 100 Ethereum and Maker coins amounting to the value. I am pretty sure that the government of India will really appreciate this move. And it could even help soften the crypto situation in India.
The big crisis of Covid in India!
The number of cases in the country was dropping and everything was sailing smoothly. But in March 2021 things started to get bad. There was a monumental rise in the no of cases and the health infrastructure of the country started to fail. The country was falling short of beds, oxygen, medicines, and people were not able to get proper treatment due to the same. Seeing this huge COVID crisis in the country people from around the world have now started helping India. Even Pak’s Twitter is trending with hashtags like IndiaWantsOxygen.
People are donating money for supplies, oxygen, and other equipment that could create a difference for a COVID patient in the country. And one such donation from Buterin has created a lot of hope that even other crypto communities will create a difference in the county. This donation that Buterin made was made possible by Sandeep Nailwal who started a COVID relief fund campaign. He tweeted:
Can't take this sitting down anymore, I am going to run a Covid relief campaign in lieu of what’s going on in India.
Need help from the Global crypto community.
I will take full responsibility for transparency, funds usage and regulatory compliance
If you want to donate.. 1/n
— Sandeep AggLayer. polygon ? (@sandeepnailwal) April 24, 2021
The use of the funds
It is great to see that not only Nailwal is raising the funds but also planning to use them effectively. He plans to get food, oxygen, supplies, vaccines for poor people using the money. The guy even promised to share all details about how he spends the money for transparency. To make use of the funds, the guy will have to convert the coins into fiat as crypto isn’t anywhere accepted in India. It will also probably mark the beginning of a spree of other donations from big personalities and startup founders in the crypto space.
This donation also depicts a huge positive side of crypto and the community’s love. It also shows that even if there are many illegal things related to the same there are good things happening too. And at this moment what the community needs is the direction to go ahead. If India doesn’t ban crypto it will surely become one of the largest markets globally due to the huge population.
What are your thoughts on the co-founder of Ethereum donating Rs 4.5 crores for the Covid fund in India? And do you think other members from the community will also come ahead to help? Let us know in the comments below. Also, if you found our content informative do like it and share it with your friends.
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